The stability assessment of rail vehicles is a critical factor in ensuring the safe and efficient operation of railway systems. One such area of interest is the interaction between the rail and wheel, especially in bogies used for freight vehicles. This study focuses on modelling the rail–wheel interactions specific to CASNUB bogies, commonly used in Indian Railways for heavy-haul freight applications. CASNUB bogies are known for their robust design, but challenges related to lateral stability and dynamic behaviour under high loads. The primary objective of this research is to develop a 17-degrees-of-freedom model of a freight railroad car fitted with CASNUB bogie, considering spin creepage and gyroscopic effect in wheelset modelling. The creep coefficients are determined using Kalker’s theory. The model is designed to evaluate the lateral stability of CASNUB bogies, incorporating key parameters such as suspension characteristics and damping properties. The outcomes contribute to enhancing the understanding of rail-wheel interactions and offer recommendations for improving the stability of CASNUB bogies through design modifications or operational adjustments. This research has implications for improving the safety and performance of freight trains, leading to more reliable and efficient railway operations.